Advocacy Update: Advocacy is an Investment in Our Industry’s Future

By Lorenzo Cruz

Minimizing risk, building relationships, investing in communities, and improving lives are the pillars of banking — and the foundation of our approach to advocacy. As bankers, we are entrusted with protecting and growing our customers’ assets. Similarly, through government relations, we work to safeguard and advance the interests of the banking industry in the legislative, regulatory, and judicial arenas.

Advocacy is essential. It helps neutralize threats and seize opportunities that benefit our institutions, customers, and the communities we serve. Just as we manage financial risk, we must also manage political risk — and that requires consistent engagement at all levels of government.

The Wisconsin legislative session is well underway. The WBA government relations team is actively advocating on key issues including credit card fees, trust code updates, ESG regulations, credit union powers, privacy, and artificial intelligence. Budget deliberations are in full swing, with lawmakers weighing tax cuts and funding for K-12 education, higher education, health care, corrections, and transportation. The Joint Finance Committee’s votes are expected in May, with final floor action likely in June. While budgets are usually signed by early July, this year may stretch longer.

Meanwhile, politics remain highstakes. The recent State Supreme Court race was the most expensive nonpartisan judicial contest in U.S. history, with spending exceeding $100 million. These spending levels underscore the ongoing volatility and importance of staying politically engaged.

Bankers play a crucial role in WBA’s advocacy efforts. One of the most impactful ways to contribute is through financial support of Wisbankpac or the Alliance of Bankers Conduit, which fuels our ability to support pro-banking candidates and policies. Our 2025 goal is $300,000, and we need leadership from every corner of the industry to get there.

We urge bank Presidents and CEOs to join the Leadership Circle and ensure their institutions achieve Gold Triangle recognition. Senior management and board members are encouraged to give at the Silver Triangle level. All employees — managers and staff — can make meaningful contributions of $125, $250, $500, or more. Every dollar supports allies who understand and champion our industry in Madison and Washington, D.C.

These investments deliver real results. Thanks to WBA’s advocacy and the support of our legislative partners, Wisconsin enacted the first-ever income tax exemption on commercial loans of $5 million or less — a landmark achievement projected to save banks over $24 million annually. This legislation is now a model for other states, showcasing the power of political engagement.

To maintain this momentum, we must continue building relationships, expanding our influence, and supporting advocacy programs. In addition to giving, consider participating in events like Capitol Day, the Kohler Issue Advocacy Outing, Milford Hills Sporting Clays PAC event, Take Your Legislator to Work Day, or by becoming an Advocacy Officer and working toward BIGG (Bankers Involved in Grassroots Government) recognition.

Your investment in WBA advocacy isn’t just a contribution — it’s a strategic move that protects our future and drives real returns.